Income Tax department warns salaried class against filing wrong ITRs

Modesto Morganelli
Aprile 19, 2018

Salaried employees are a key segment of taxpayers in India.

Infact, the Income Tax Department has recently cautioned salaried class taxpayers against using illegal means like under-reporting of income or "inflating" deductions while filing their returns, stating violators will be prosecuted and their employers will be intimated to take action against them. "In the cases of such wrong claims by the government/PSU employees, reference would be made to the concerned vigilance division for action under conduct rules", said the advisory.

The income tax department on Wednesday cautioned salaried taxpayers against claiming false refunds by inflating deductions.

The processing of ITRs by Centralized Processing Centre, Bengaluru is done in an automated rule-based manner with no human interface with the taxpayer. In all such cases of high risk, the Department may examine and verify the details submitted by taxpayers in their ITR, subsequent to processing of returns in CPC.

The biggest such racket was unearthed in Bangalore by tax sleuths in January. Similarly, details under income from the property including gross rent received, tax paid to local authorities, annual value, interest payable on borrowed capital are required to be filed. It had further alleged that employees of several reputed companies, including IBM, Vodafone, Infosys, ICICI Bank, CISCO and Thomson Reuters, had resorted to such fraudulent claim of refunds. The failure to comply with the income-tax laws and provisions could land them in trouble, said the I-T department. "Such offences are punishable under various penal and prosecution provisions of the Income Tax Act". Under the new ITR forms, you need to disclose detailed information about your income and deductions compared with previous ITR forms. According to the IT department, the tax paid by an average salaried taxpayer topped Rs75,000 in assessment year 2016-17, as against just a third (around Rs25,000) by average individual business taxpayers.

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